Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Long Risk Reversal trade opportunity for TOTAL SA (TOT) for the 17-Apr-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. TOT was recently trading at $29.17 and has an implied volatility of 61.44% for this period. Based on an analysis of the options available for TOT expiring on 17-Apr-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $28.56-$34.96 at expiration. In this scenario, the average linear return for the trade would be 19.92%. Big 14.75% Change: After closing the last trading session at $25.42, TOTAL SA opened today at $29.58 and has reached a high of $29.58. Trade approach: A movement as big as 14.75% is a significantly bullish indicator, so this trade is designed to be profitable if TOT maintains its current direction and does not revert back to pricing on the bearish side of $29.17 on 17-Apr-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if TOTAL SA closes at or above $26.80 on 17-Apr-2020. Based on our risk-neutral analysis, there is a 62.34% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.